Telesat Corp (NASDAQ:TSAT) Short Interest Down 21.6% in December

Posted by Wayne Rhoads on Dec 31st, 2024

Telesat Corp (NASDAQ:TSAT – Get Free Report) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 94,800 shares, a decrease of 21.6% from the November 30th total of 120,900 shares. Based on an average daily trading volume, of 61,300 shares, the short-interest ratio is presently 1.5 days. Approximately 0.8% of the shares of the company are sold short.

Telesat Stock Performance

NASDAQ:TSAT opened at $16.33 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.36 and a quick ratio of 4.36. The firm has a market cap of $222.76 million, a price-to-earnings ratio of 6.72 and a beta of 2.30. The firm’s fifty day moving average price is $13.99 and its 200 day moving average price is $11.36. Telesat has a 1-year low of $6.93 and a 1-year high of $18.80.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. lifted its holdings in shares of Telesat Corp (NASDAQ:TSAT – Free Report) by 25.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,781 shares of the company’s stock after buying an additional 75,000 shares during the period. Simplify Asset Management Inc. owned about 2.68% of Telesat worth $3,329,000 at the end of the most recent reporting period.

Analyst Ratings Changes

Separately, Cormark upgraded Telesat to a “moderate buy” rating in a research report on Friday, September 20th.

Check Out Our Latest Research Report on Telesat

Telesat Company Profile

(Get Free Report)

Telesat Corporation, a satellite operator, provides mission-critical communications solutions to broadcast, enterprise, and consulting customers worldwide. The company’s satellite-based services allow direct-to-home (DTH) service providers to deliver television programming, audio, and information channels directly to customers’ homes; and enables broadcasters, cable networks, and DTH service providers to transmit television programming services.